Opto Circuits (India) Ltd (OCI), a leading developer and manufacturer of patient monitoring systems and interventional products, has acquired entire capital stock of US-based Unetixs Vascular, Inc, a specialist in the detection of peripheral arterial disease (PAD), for a cash consideration of approximately USD 9.7 million (around Rs 46 crore). OCI will fund the acquisition through internal accruals.
Unetixs designs, develops and markets a full line of world class, USFDA-approved vascular diagnostic systems and accessories. The products cover a wide range of applications from high-end vascular diagnostic systems to fully self-contained low-cost diagnostic stations. Unetixs’ equipment is used in physician offices, vascular labs, hospitals and mobile testing units by such diverse professionals like vascular surgeons, cardiologists, primary care physicians, endocrinologists, podiatrists and technologists.
Unetixs’ special interest in the detection of peripheral arterial disease (PAD) has made it a marquee name and a world leader in the field. PAD is a growing health concern across demographics. Early detection of the disease, with equipment developed by Unetixs, greatly enhances the chances of successful treatment and management of the problem.
Vinod Ramnani, chairman and managing director, OCI, said, “Access to the state-of-the-art PADs detection technology of Unetixs Vascular is a key milestone for Opto. It will allow us to now offer to the world, diagnostic products from Unetixs and treatment products provided by Eurocor, our European subsidiary. We also expect the Unetixs product line to open doors for our Criticare range of patient monitors in key US healthcare establishments.”
“We welcome the Unetixs team to the Opto Group and we are confident of it playing a significant role in the growth of our business,” continued Ramnani.
Peter A Moscovita, president & CEO, Unetixs Vascular, commented, “We are delighted at becoming a part of the Opto family. Having grown Unetixs from a very humble beginning in 1988, we have gained immense reputation and respect from many medical institutions throughout the United States as well as other locations worldwide. Our high-quality products and innovative designs put Opto Circuits in a position to capture the growth potential as it continues in the PAD market.
Unetixs holds 14 patents worldwide and is driven by a strong R&D team based out of RI. The company employs a highly trained sales force which includes 7 direct sales representatives, 12 independent manufacturer’s representatives throughout the United States and international offices based out of England; it also works with several distributors around the world.